Eastport Critical Metals Reports 347m Rare Earth Drill Result in Botswana
Eastport Critical Metals Corp. (TSXV:EVI) announced drill results from its Semarule rare earth element project in Botswana. Hole SEM007 intersected 347 meters at 0.20% total rare earth oxides from the surface, including a higher-grade interval of 14.5 meters at 0.47% TREO. Magnet rare earth oxides represented approximately 29% of the TREO total in the hole, which is hosted in mafic syenite rocks. The result builds on earlier drilling at hole SEM005, which yielded 47.5 meters at 0.64% TREO.
The 347-meter mineralized section highlights potential scale for the early-stage Semarule project. Higher-grade zones and magnet rare earth proportions could enhance future project economics if continuity is maintained across additional drilling. Shares of Eastport Critical Metals Corp. fell 9.84% to 0.55 CAD following the disclosure.
The company plans to launch Phase 2 drilling next. Upcoming work will evaluate depth profiles, test grade variability across the deposit, and gather metallurgical data needed to establish an initial mineral resource estimate.
Key points
- Eastport Critical Metals Corp. intersected 347 meters at 0.20% TREO from surface at the Semarule project in Botswana.
- The SEM007 hole featured a higher-grade sub-interval of 14.5 meters at 0.47% TREO.
- Magnet rare earth oxides accounted for approximately 29% of the total rare earth content in SEM007.
- Phase 2 drilling is planned to assess grade variability, depth, and support a future maiden resource.
- Eastport Critical Metals shares declined 9.84% to 0.55 CAD in recent trading.
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What were Eastport Critical Metals recent drill results in Botswana?
Eastport Critical Metals reported that hole SEM007 intersected 347 meters at 0.20% total rare earth oxides from surface at the Semarule project, including 14.5 meters at 0.47% TREO.
What is the next step for the Semarule rare earth project?
Eastport Critical Metals plans to execute Phase 2 drilling to test depth profiles, assess grade variability, define continuity, and evaluate metallurgy for a future resource estimate.